Metro Credit Union

Do you remember ever collecting a tax refund for 2020? If you didn’t, your 2020 tax refund may still be unclaimed and the Internal Revenue Service (IRS) says time is running out to cash in.

More than 21,000Massachusetts residentscould be leaving behind an average of $975 per individual filer, estimated to be more than $25 million total in unclaimed 2020 tax returns.

In New Hampshire, 4,200 residents still haven’t filed their 2020 tax returns. The average Granite Stater could leave behind in $982 per filer, a total of just under $5 million.

The initial due date to file for 2020 was April 15, 2021, but that was extended to May 17, 2021, because of the disruption of the Covid-19 pandemic. The IRS, by law, has a three-year window for Americans to claim a tax return, and that’s why your 2020 return is still up for grabs.

There is no penalty for filers submitting a late return and claiming a refund.

For some, they could be missing more than just their 2020 tax return refund. Filers who are eligible for an Earned Income Tax Credit (EITC) or were eligible for Covid-era Recovery Rebate Credit will need to file by May 17 to also get those benefits, or they’re gone for good.

If you plan on filing a 2020 tax return, the IRS is reminding you to:

• Request copies of key documents if you don’t already have them (i.e. W2, 1098, 1099, etc.).
• Order a free wage and income transcript if you no longer have necessary tax documents from previous employers.
• Download 2020 tax return forms and return them as quickly as possible.

The IRS website offers free resources on how to file, answers to commonly asked questions, and offers additional ways to contact them if you’re in need of further assistance.